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Relief Rally at Athens Stock Exchange

In an episodic political “background,” the Athens Stock Exchange on Monday welcomed the Parliament’s approval of the new loan agreement.
The shares of Eurobank, Hellenic Postbank, Piraeus Bank and Alpha Bank, recorded gains above 20%, while NBG reached intraday to 3 euros, up 11,94%, leading the banking index just a breath away from the 500 units.
The analysts think that this is a market’s relief reaction, as the vote for the new loan agreement paves the way for the release of the next installment of the loan support of Greece, however, they express their concern regarding the fact that the next time will be priced by critical market parameters, such as the degree of success of the PSI.
On Wednesday, the Athens Stock Exchange will face Eurogroup, where the decisions will be absolutely crucial for developments in subsequent weeks.
On the board, the General Index recorded the highest close so far in 2012, at 834.41 points, 4.65% stronger. Intraday recorded profits up 5.81% at 843.64 points.
(source: capital)

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